What Is The Current Price of Shiba Inu Coin That Once Rose To 50,588,941% in 2021?
2022-03-23 16:18:59
What Is Shiba Inu Coin Price Currently After The Boom?
The market for cryptocurrencies started in 2022 with volatility due to the Russian-Ukrainian war being affected in some way. Many currencies were in a slump with very few ups and downs. However, the market has started to pick up in recent days. Many cryptocurrencies such as Bitcoin and ETH have seen small gains and are showing signs of continued rise. This is making people look forward to the next market movements.
Will the market rise as much this year as it did last year? There is one cryptocurrency that rose 50,588,941% last year, sending its total market cap soaring to a maximum of 1500% to $2.2 trillion. That's the Shiba Inu coin. All you need to do is invest $2 at the beginning of 2021 and you could be a millionaire by December. The news that Shiba Inu Coin surged more than Dogecoin during the period made many media headlines.
What Is The Price of Shiba Inu Coin Today?
The live Shiba Inu price today is USD 0.000023 with a 24-hour trading volume of USD 717,293,931. It is up 1.83% in the last 24 hours. The current CoinMarketCap ranking is #15, with a live market cap of $12,734,299,411 USD. It has a circulating supply of 549,063,278,876,302 SHIB coins. (Source: Gate.io March 22th)
The once Shiba Inu coin hit 9 all-time highs in two weeks and became the world's most valuable MEME token, successfully replacing Dogecoin which is the originator of pet tokens. Relative to last year's rise, the current Shiba Inu coin is down quite a bit. The current price resistance point is always hovering around 0.000023, but this is also seen by some investors as a good opportunity to rebound and recover.
Reasons That May Affect The Price of Shiba Inu Coin
1. Massive Token Burned
When the Shiba Inu coin skyrocketed in 2021, the team of Shiba Inu coin started a part of token burning to ensure the value of its tokens as well as the market circulation. This is because the Shiba Inu coin has a total mintage of 1,000 trillion, which is not a small amount.
Three months have passed since 2022, a lot of Shiba Inu coins have been burned and destroyed. For example, 162 million Shiba Inu tokens were burned in the “Biggest Burn party” on February 14 Valentine's Day, and 220 million Shiba Inu tokens were burned as of March 21. More token burns are planned and in progress. The total number of Shiba Inu coins in circulation today is 54.906 billion.
2. The Whale Bought 3.7 Trillion Shiba Inu Coins
On March 20, the 216th ranked Whale on WhaleStats purchased 3.7 trillion Shiba Inu coins worth $89,128,210USD at the time. This made the Shiba Inu coin be the second most held cryptocurrency by Whale in the Ether blockchain. With the addition of Whales, it will not only bring help to the stability of Shiba Inu coin price but also increase some of the investors who want to buy Shiba Inu coin.
3. Release of ShibaSwap 2.0
ShibaSwap 2.0 is the latest version of the SHIB decentralized cryptocurrency exchange. Although the exact release date is not yet announced, we can see that its token burning feature can have a stabilizing effect on its value. There is also the upcoming Shibarium which has become an influencing factor on Shiba coin's price.
Shiba Inu coin, a token that was ridiculed as a cottage currency for Dogecoin when it was first released, has now made many people rich overnight by skyrocketing. Think the fallen Shiba Inu coin is still likely to rise in 2022? Is it possible for the Shiba Inu coin team's goal of $0.01 to be achieved? Everything is still yet to be discovered.
The market for cryptocurrencies started in 2022 with volatility due to the Russian-Ukrainian war being affected in some way. Many currencies were in a slump with very few ups and downs. However, the market has started to pick up in recent days. Many cryptocurrencies such as Bitcoin and ETH have seen small gains and are showing signs of continued rise. This is making people look forward to the next market movements.
Will the market rise as much this year as it did last year? There is one cryptocurrency that rose 50,588,941% last year, sending its total market cap soaring to a maximum of 1500% to $2.2 trillion. That's the Shiba Inu coin. All you need to do is invest $2 at the beginning of 2021 and you could be a millionaire by December. The news that Shiba Inu Coin surged more than Dogecoin during the period made many media headlines.
What Is The Price of Shiba Inu Coin Today?
The live Shiba Inu price today is USD 0.000023 with a 24-hour trading volume of USD 717,293,931. It is up 1.83% in the last 24 hours. The current CoinMarketCap ranking is #15, with a live market cap of $12,734,299,411 USD. It has a circulating supply of 549,063,278,876,302 SHIB coins. (Source: Gate.io March 22th)
The once Shiba Inu coin hit 9 all-time highs in two weeks and became the world's most valuable MEME token, successfully replacing Dogecoin which is the originator of pet tokens. Relative to last year's rise, the current Shiba Inu coin is down quite a bit. The current price resistance point is always hovering around 0.000023, but this is also seen by some investors as a good opportunity to rebound and recover.
Reasons That May Affect The Price of Shiba Inu Coin
1. Massive Token Burned
When the Shiba Inu coin skyrocketed in 2021, the team of Shiba Inu coin started a part of token burning to ensure the value of its tokens as well as the market circulation. This is because the Shiba Inu coin has a total mintage of 1,000 trillion, which is not a small amount.
Three months have passed since 2022, a lot of Shiba Inu coins have been burned and destroyed. For example, 162 million Shiba Inu tokens were burned in the “Biggest Burn party” on February 14 Valentine's Day, and 220 million Shiba Inu tokens were burned as of March 21. More token burns are planned and in progress. The total number of Shiba Inu coins in circulation today is 54.906 billion.
2. The Whale Bought 3.7 Trillion Shiba Inu Coins
On March 20, the 216th ranked Whale on WhaleStats purchased 3.7 trillion Shiba Inu coins worth $89,128,210USD at the time. This made the Shiba Inu coin be the second most held cryptocurrency by Whale in the Ether blockchain. With the addition of Whales, it will not only bring help to the stability of Shiba Inu coin price but also increase some of the investors who want to buy Shiba Inu coin.
3. Release of ShibaSwap 2.0
ShibaSwap 2.0 is the latest version of the SHIB decentralized cryptocurrency exchange. Although the exact release date is not yet announced, we can see that its token burning feature can have a stabilizing effect on its value. There is also the upcoming Shibarium which has become an influencing factor on Shiba coin's price.
Shiba Inu coin, a token that was ridiculed as a cottage currency for Dogecoin when it was first released, has now made many people rich overnight by skyrocketing. Think the fallen Shiba Inu coin is still likely to rise in 2022? Is it possible for the Shiba Inu coin team's goal of $0.01 to be achieved? Everything is still yet to be discovered.
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